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3326
LAWS OF MARYLAND
[Ch. 765
for unsold or unrented newly constructed single
family dwellings; and relating generally to a tax
credit for certain dwellings.
BY adding to
Article 81 — Revenue and Taxes
Section 12G—5
Annotated Code of Maryland
(1969 Replacement Volume and 1974 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 12G—5 be and it is hereby
added to Article 81 — Revenue and Taxes, of the Annotated
Code of Maryland (1969 Replacement Volume and 1974
Supplement) to read as follows:
Article 81 — Revenue and Taxes
12G-5.
(A) IN CECIL COUNTY, THIS SECTION, TO THE
EXCLUSION OF ANY OTHER PUBLIC GENERAL OR PUBLIC LOCAL LAW
(UNLESS SPECIFIC REFERENCE IS MADE TO THIS SECTION AND
APPROPRIATELY MODIFIED OR REPEALED), CONTROLS AND
REGULATES EXCLUSIVELY THE GRANTING OF ANY SPECIAL TAX
CREDIT FOR UNSOLD OR UNRENTED, NEWLY CONSTRUCTED SINGLE
FAMILY DWELLINGS.
(B) IN CECIL COUNTY, THE OWNER OF AN UNSOLD,
UNRENTED AND UNOCCUPIED, NEWLY CONSTRUCTED SINGLE FAMILY
DWELLING IS ENTITLED, UPON APPLICATION TO THE GOVERNING
BODY OF CECIL COUNTY, TO RECEIVE A TAX CREDIT EQUAL TO
THE PROPERTY TAXES IMPOSED UPON THE ASSESSED VALUE OF THE
DWELLING, EXCLUDING LAND, FOR THE PERIOD DURING WHICH THE
DWELLING REMAINS UNSOLD, UNRENTED AND UNOCCUPIED
IMMEDIATELY FOLLOWING CONSTRUCTION. HOWEVER, A TAX
CREDIT MAY NOT APPLY TO ANY DWELLING USED AS AN OFFICE OR
SAMPLE HOME BY THE BUILDER. AN OWNER MAY NOT RECEIVE TAX
CREDITS FOR MORE THAN THREE DWELLINGS PER YEAR UNDER THE
PROVISIONS OF THIS SECTION. IN THIS SECTION, TAX CREDITS
SHALL BE AVAILABLE ONLY OVER ONE CONTINUOUS PERIOD OF
TIME FOR ANY DWELLING NOT EXCEEDING ONE YEAR AND MAY NOT
APPLY TO A DWELLING WHICH HAS PREVIOUSLY BEEN OCCUPIED.
HOWEVER, IMMEDIATELY ON OR BEFORE THE DATE OF OCCUPANCY,
AND REGARDLESS OF WHETHER THE DWELLING IS SOLD, RENTED OR
MERELY OCCUPIED, THE APPLICANT FOR A TAX CREDIT SHALL
SEND TO THE GOVERNING BODY OF CECIL COUNTY AN APPROPRIATE
NOTICE THAT THE DWELLING HAS BEEN SOLD, RENTED OR
OCCUPIED. FAILURE TO COMPLY WITH THE PROVISIONS OF THIS
SECTION SHALL RESULT IN THE IMMEDIATE FORFEITURE OF ALL
TAX CREDITS WHICH HAVE BEEN APPLIED TO THE DWELLING UNIT
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